CryptoSlate Daily wMarket Update: Bitcoin’s short-lived rally above $26,000 burns long traders

In the past 24 hours, the cryptocurrency marketplace headdress saw nett inflows of astir $10 cardinal and presently stands astatine $1.09 trillion — up 0.89% from $1.08 trillion.

Over the reporting period, Bitcoin and Ethereum’s marketplace headdress decreased by 0.53% and 0.52% to $474.77 cardinal and $205.56 billion, respectively.

All apical 10 crypto assets maintained a affirmative terms show implicit the past 24 hours, but Cardano, which fell 0.71%. The biggest gainers were Polygon, DogeCoin, Solana, and Polkadot, which roseate by implicit 2%.

Source: CryptoSlate

In the past 24 hours, the marketplace headdress of Tether (USDT) accrued to $73.73 billion. Meanwhile, Binance USD (BUSD) remained level astatine $8.36 billion, portion USD Coin (USDC) decreased to $38.39 billion.

Bitcoin

In the past 24 hours, Bitcoin accrued 0.35% to commercialized astatine $24,575 arsenic of 07:00 ET. Its marketplace dominance fell to 43.8% from 44%.

During the reporting hours, Bitcoin broke aggregate absorption levels to commercialized astatine a seven-month precocious of $26,514. However, the gains were short-lived arsenic the plus rapidly tumbled beneath $25,000. Coinglass information showed that astir $150 cardinal successful agelong positions held connected the plus were liquidated.

Source: Tradingview

Ethereum

Over the past 24 hours, Ethereum gained 0.42% to commercialized astatine $1,687 arsenic of 07:00 ET. Its marketplace dominance dropped to 19.0% from 19.1%.

ETH’s terms show mirrored that of Bitcoin. The plus peaked astatine $1779 earlier returning to its existent levels.

Source: Tradingview

Top 5 Gainers

SingularityNET

AGIX is the day’s biggest gainer, rising 38.53% implicit the reporting play to $0.53 arsenic of property time. The AI-related token saw its worth spike aft OpenAI released the caller exemplary ChatGPT-4. Its marketplace headdress stood astatine $641.45 million.

Conflux Network

CNX is connected the apical gainer’s database for the 3rd consecutive day. The token accrued 35.88% to $0.33 astatine the clip of writing. Its marketplace headdress stood astatine $885.98 million.

Ribbon Finance

RBN gained 30.91% to $0.26 as of property time. The decentralized concern (DeFi) task autochthonal token has accrued 24% implicit the past 7 days. Its marketplace headdress stood astatine $143.42 million.

Stacks

STX is backmost connected the apical gainers’ database aft expanding 30.3% to $1.04 astatine the clip of writing. The Bitcoin layer2 web roseate 258% successful the past 30 days. Its marketplace headdress stood astatine $1.42 billion.

ImmutableX

IMX roseate 27.71% to $1.23. Its marketplace headdress stood astatine $1.08 billion.

Top 5 Losers

Gensokishi Metaverse

MV is the day’s biggest loser, falling 7.08% to commercialized astatine $0.12 at the clip of writing. The NFT-related token has fallen by 31% implicit the past 30 days. Its marketplace headdress stood astatine $217.08 billion.

DAO Maker

DAO declined 6.07% to $0.1.70 astatine the clip of writing. The DeFi token has been down 6% implicit the past 7 days. Its marketplace headdress stood astatine $245.95 million.

Helium

HNT plunged 5.45% to $2.21. The blockchain web has continued to look controversies implicit users’ profitability and utility. Its marketplace headdress stood astatine $309.74 million.

Core

CORE is down 3.78% to $2.16. Its marketplace headdress stood astatine $144.95 million.

Everscale

EVER decreased 3.05% to $0.097 arsenic of property time. The task fell 17% implicit the past 7 days. Its marketplace headdress stood astatine $168.84 million.

The station CryptoSlate Daily wMarket Update: Bitcoin’s short-lived rally supra $26,000 burns agelong traders appeared archetypal connected CryptoSlate.